Thirdweb got $24 million in a Series A funding round in August 2022. Big investors like Hahn Ventures, Polygon Labs, Coinbase Ventures, and Shopify contributed to this round. The company is now worth a whopping $160 million more because of this big investment. After their funding round went well, Thirdweb made a move to strengthen their position in the Web3 gaming market. They recently appointed Atif Khan, a seasoned Facebook executive, as their new Vice President of Gaming. Khan has a lot of experience because he was the Head of Mid-Market and In-App Ads for Global Gaming at Facebook. This smart hire shows that Thirdweb wants to improve the Web3 gaming experience and strengthen their position in the industry.
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Machine learning initiatives are still working to improve decentralized technology, even though the emphasis of the IT sector has moved to artificial intelligence. Thirdweb, the San Fransisco-based initiative offers developers a comprehensive Web3 infrastructure toolkit to construct diverse decentralized applications. These applications range from blockchain games to NFTs, DAOs, and various other offerings.
Shopify Backs $24 Million Thirdweb Funding Round
Thirdweb successfully secured a Series A funding round of $24 million in August 2022, with notable investors such as Hahn Ventures, Polygon Labs, Coinbase Ventures, and Shopify. This investment positioned the firm at an evaluation of $160 million.
To accelerate the expansion of the Web3 gaming sector, infrastructure startup Thirdweb has hired former Facebook executive Atif Khan as its new Vice President of Gaming. The company has designed a game from the ground to showcase its potential as a leading web3 firm.
Khan worked at Facebook for eight years, lastly holding the position of Head of Mid-Market & In-App Ads for Global Gaming. In 2021, Khan left the company and accepted the position of Chief Operating Officer at Web3 gaming company Stardust.
Atif Khan Aims to Accelerate the Growth of Web3 Gaming
According to him, one of the primary reasons for Khan to join Thirdweb was the chance to "sell the full stack to a game developer."
Developers must have access to software and tools including RPC nodes, asset minting process, account creation, handling payments, marketplace construction, API, game engine tools, and many others to apply the fundamentals of Web3 games. Khan claims these services are frequently bought from several suppliers, but Thirdweb intends to streamline the procedure.
In a statement, Khan explained: “We want to build a great, one-stop shop tool that’s comprehensive. He further added: So that developers don’t have to go to seven or eight different places.”
Although ThirdWeb will provide that full-stack option, it is also designed to fulfill the demands of game makers. Moreover, Thirdweb can step in if a studio decides to utilize a distinct RPC node or index relay provider. He further added that we offer sufficient flexibility to stand out in the web3 gaming world.
Game developers understand the evolving preferences of players and they strive to provide an immersive gaming experience that prioritizes gameplay above anything else. Players no longer need to feel restricted or confined to a single wallet, whether it's smart, local, custodial, or non-custodial.
Web3 Warriors
Thirdweb performed an incredible feat by producing Web3 Warriors, an on-chain survival action game, in just three weeks to demonstrate the limitless potential of their toolbox. Web3 Warriors was launched on the Base-M Ethereum layer-2 scaling network testnet. The company reported that its innovative game captured the spotlight in a matter of seven days. The game attracted over 500 different players and logged more than 1,000 gaming sessions.
Thirdweb used a Trojan horse technique, integrating blockchain functions such as non-custodial wallets, in-game fight tokens, and artistic skins that took the shape of NFTs on the backend to prioritize user satisfaction and boost gameplay expertise. It was quite similar to Reddit's introduction of digital collectibles. In other words, Thirdweb follows a simple approach that prioritizes entertainment over crypto.
According to Khan, some of the major problems with the play-to-earn NFTs model, which peaked in 2021 before sharply declining last year, were caused by the difficulties that players encounter when trying to understand the mechanics of digital currencies in addition to the concept itself. Another crucial thing is to recognize the fundamental worth and financial reward of using cryptocurrency tokens. Web3 game creators have been discussing the importance of fun and entertainment regularly in recent times.
Khan explored a wide range of games, from simulations like Empire, Civilization, and The Sims to sports games like FIFA and first-person shooters GoldenEye 007 and Halo.
Thirdweb has the Potential to Transform Web3 Games
Khan thinks that Web3-native recreational mobile games that implement innovative ideas will outperform conventional mobile games as an incentive for widespread adoption. He is excited to introduce Thirdweb's technologies to a variety of crypto-infused experiences. Thirdweb aspires to be the most advanced and comprehensive developer tool not only for traditional games but also for Web3 games.
Play-to-earn games provide a perfect dose of entertainment and they are more likely to take the gaming industry by storm. They possess the potential to capture a wider audience and provide a reliable platform to earn money while playing games.
More About Thirdweb
Furqan Rydhan, the CTO of Bebo and AppLovin, and Steven Bartlett, the founder of Social Chain and the newest investor on Dragon Denk, formedTthirdweb, which was released in December 2021.
Thirdweb is an online hub that offers a set of tools for businesses, designers, and creators to quickly develop, publish, and oversee Web3 projects. It empowers users to enhance their Web3 applications without drafting a single line of code with features like NFTs, markets, and social tokens. They created Thirdweb to make it as simple as possible for business owners, programmers, brands, and other creators to unleash the potential of this code-free web3 initiative.
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